The recent announcement by the Regional Investment Center of Fes-Meknes regarding a new package of financial incentives for companies looking to establish themselves in the "Fes Shore" complex has reignited an age-old debate that resurfaces annually: Are public grants and support policies truly capable of fostering development and generating wealth, or have they devolved into mechanisms for attracting companies that benefit from privileges only to leave without leaving a corresponding economic impact equivalent to the public funds allocated to them?
The Regional Investment Center has unveiled grants that can reach up to two million dirhams for the establishment of company headquarters, along with direct support of 6,000 dirhams for each job created and maintained for a duration of 24 months. This initiative also offers administrative and property support through a one-stop shop, representing yet another effort to market the region as an investment destination for offshore services and the digital economy. However, an urgent question arises: what tangible results has this policy produced since the launch of the Fes Shore project several years ago?
The Discrepancy Between Promised Growth and Economic Reality
Despite the continuous flow of official statements discussing the region's investment attractiveness, the economic and social indicators within Fes-Meknes remain far from the aspirations that accompanied the launch of this initiative. The region still grapples with high unemployment rates, particularly among youth and university graduates. Thousands of graduates leave annually for cities like Rabat and Casablanca or even seek opportunities abroad, in search of more stable and better-paying jobs. This trend raises serious questions regarding the current model's ability to retain the region's rich human capital.
One of the most prominent criticisms aimed at the current incentive policy is its focus on attracting large foreign companies through significant financial, logistical, and real estate advantages, while local small and medium-sized enterprises struggle with financing difficulties, complicated procedures, and a lack of support at a comparable rate. As millions of dirhams are allocated for setting up international companies, many local investors complain about the challenges in accessing economic real estate, the high cost of financing, and the lengthy administrative processes. This creates a perception of inequality in accessing the incentive system.
This is not a rejection of foreign investment; rather, it raises the question of achieving a balance between attracting external capital and strengthening the national entrepreneurial fabric, which is the true guarantee for sustainable development and wealth creation within the region.
The Future of Fes Shore: A Call Center Hub or a Technology Haven?
When the "Fes Shore" project was launched, the declared goal was to transform the scientific capital into a hub for the digital economy and high value-added services. However, the reality of activities within the complex shows that a significant portion is concentrated in call centers, technical support services, and customer service. While these activities are crucial for job creation, they fall short in terms of technology transfer, innovation, and research and development. Numerous experts advocate for attracting companies specializing in software, artificial intelligence, digital engineering, and technological industries, aligning with the academic qualifications offered by the region's universities and schools.
Another pressing question is whether public funds yield a genuine return. Many economic experts argue that assessing the success of incentive programs should not be limited to the number of companies established or jobs created at the outset. Instead, it should encompass the sustainability of those jobs, the continued investment of companies after the support periods end, and their contributions to transferring expertise, training local competencies, and enhancing the added value of the regional economy. These experts also call for the publication of periodic reports clarifying the value of grants received by each company, the actual number of jobs created, their retention rates, and adherence to contractual obligations, thereby promoting transparency and accountability.
Fes-Meknes boasts extraordinary potential; it has one of the largest populations in the kingdom, universities and higher institutes graduating thousands of skilled individuals annually, a strategic geographic location, and a network of roads, railways, and an international airport. However, transforming these capabilities into a genuine economic force requires, according to many economic stakeholders, moving beyond the logic of attracting low value-added investments to embrace a new model focused on supporting innovation, encouraging technological industries, linking universities with businesses, strengthening local startups, and attracting industrial and digital projects capable of creating stable and highly skilled jobs.
The success of any investment policy cannot be measured solely by the volume of financial grants announced or the number of agreements signed; rather, it should be evaluated by the tangible impact it creates in the lives of citizens. Today, the youth of Fes-Meknes seek more than just new promises or additional incentives; they yearn for an economy that can generate stable job opportunities, dignified wages, and investments that transfer knowledge and build wealth within the region, rather than merely attracting projects that benefit from privileges only to leave the same question lingering after years: **Where is the real impact of these public funds?**
As reported by fes24.com.
